Question

person loan

Asked 7 December 2012 · 1 answer

The question

I loaned 2k over 20 months ago and was only meant to be a short term loan of 30 days, This person signed a note stating that within 30 - 60 days he would repay my 2k at an interest rate of 20%, gave me a check for $2400. When I went to cash this check it was no good. How do I proceed with small claims court regarding the charging of interest. Is 20 months due @ 20% or just 30 days total.

From the LawyerCentral forum archive. Originally posted 7 December 2012 on a legal forum that has closed. Names and contact details were removed. See the original (Internet Archive).

1 answer

Visitor answer 1 March 2013

The answer to your question will depend on the state in which you live. If you are in Indiana I can tell you that filing a small claim is as easy as walking into the courthouse, remembering your name, and remembering who you want to sue. Whether you can get prejudgment interest is a matter of discretion of the court, so I wouldn't hold my breath for that. But if you're not in Indiana then just take this as general guidance and speak with an attorney in your area.

Best of luck!

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